Whether it’s in real life or real estate, there are always signs or clues that a problem may be lurking. If you see a red flag - pay attention. Here are some common red flags in real estate that should make you start asking questions.
1. The Listing Shows No Interior Photos
If the listing doesn’t explain why there are no interior images, you should start to ask questions about the condition of the property and what the seller doesn’t want you to see.
2. You Spot Water Stains
Water stains signal there was once a leak or water intrusion. You should have a home inspector determine if the leak is still active and identify where the source of the water is coming from.
3. You Definitely Smell Something
Never ignore a smell. Some smells like smoking in the home, mildew, and even pet urine can lead to costly remedies to remove the unpleasant smell.
4. Buyer Reluctant to Make Earnest Money Deposit
This isn’t a strong signal that the buyer wants to commit to the purchase. Sellers should insist that an earnest deposit is made as part of the contract.
5. The Roof Looks Saggy
This could indicate serious issues with trusses or bracing that can be incredibly expensive to fix.
6. Seller Won’t Allow Inspections
If a seller won’t allow you to inspect the property, you should immediately start asking questions about what they might not want you to discover.
7. House Has Been on the Market Awhile
Two to three months is NOT a long time on the market. More than 200 days is a long time. You should start asking questions about why the house has been on the market so long.
8.There Are Sloping Floors
Normal settling can cause floors to be slightly out of level, but if the slope is noticeable, it could be related to a foundation problem, broken floor joists, or rotted support beams.
9. You Notice Cracks in the Foundation.
Cracks in the sidewalk? Normal. Cracks in your home? Deal breaker. When you view a property in person, take note of any patchwork along the sides of the home near the foundation.
10.The Price Is Unbelievably Low
Most sellers aren’t inclined to give deep discounts. If a price seems too good to be true, there’s probably a reason. The home could need extensive repairs, or there is more to the story to uncover in a title search.
Bottom Line:
Buying a house is easily one of the most expensive and most nerve-wracking purchases you’ll ever make. If you are selling a home at the same time, you’ve got to be even more cautious. You can replace ugly carpet and a bad paint job, but you don’t want to buy a house with a bad foundation. Whether buying or selling, I highly recommend that you work with an experienced Realtor who won’t allow you to ignore
red flags.
